D. Boral Capital Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $16.00 price objective on the stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Biomea Fusion has a consensus rating of “Buy” and a consensus price target of $29.18.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $2.53 on Wednesday. The firm has a 50-day simple moving average of $3.55 and a 200 day simple moving average of $6.26. Biomea Fusion has a twelve month low of $2.35 and a twelve month high of $17.25. The stock has a market cap of $91.68 million, a PE ratio of -0.63 and a beta of -0.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after purchasing an additional 39,959 shares during the period. Geode Capital Management LLC increased its holdings in shares of Biomea Fusion by 0.7% during the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after buying an additional 4,291 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Biomea Fusion by 104.4% during the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock worth $2,173,000 after buying an additional 286,049 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Biomea Fusion by 290.7% during the fourth quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock worth $1,783,000 after buying an additional 341,900 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Biomea Fusion by 317.7% during the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company’s stock worth $1,334,000 after buying an additional 261,432 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.